ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Israel- West German Connection

September 4, 1976 IF the current crisis in the cotton situation was entirely due to the sheetfall in cotton output in 1975-76, an anticipated 7.6 million bales to an actual 6.5 million bales, the emergency import measures resorted to in July last should have eased the crisis. Already, the contracted imports amount to 1.10 lakh bales. But neither the imports, which by the time the second instalment is contracted, are expected to amount to Rs 70 crores, nor the other "drastic measures'' initiated in July last to control the situation, like the instructions issued to textile mills to reduce their cotton holdings or the restrictions placed on (he availability of bank credit to mills to buy (and hoard) cotton, seem to have had any impact on the situation. The price of cotton, after steeply rising and in fact substantially contributing to the overall rise in the price pulex has not shown any sign of com- down.

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